ANZ 0.45% $24.59 australia and new zealand banking group limited

have anz directors told the full story.

  1. DSD
    15,757 Posts.
    A couple of weeks ago the ANZ CEO concedes there is 200M missing. Doesn't seem concerned and bridles (burrs up)when asked if 'there is more (shock losses) to come'? He states any furher surprises are 'immaterial.'
    But the market doesn't beleive him (Smith) and SP falls another 10% in 2 weeks!!

    ANZ has buyers spooked coz they (buyers)suspect that losses on dud loans, CDO's, sub-prime etc....... are far larger than bank is prepared to admit to.
    Is the CEO right and the market wrong?? I will back the market 100% for next 3 months until all is (well not all.... rather "partially") revealed in the half year report.

    Unless the CEO intervenes with a detailed statement.... only the market price by mid May will provide the true answers. Till then.... this stock is on a slippery slope..... and the slope points down.

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